current account

noun

1. Also called open account. an account of credits, debits, receipts, and expenditures between two individuals or companies, usually providing for settlement at the end of specified accounting periods.

2. (in certain foreign countries) a checking account.

current account

noun

1. Canadian name: chequing account. US name: checking account. an account at a bank or building society against which cheques may be drawn at any time

2. economics that part of the balance of payments composed of the balance of trade and the invisible balance Compare capital account

Word History and Origins

Origin of current account¹

First recorded in 1840–50

Related Words

• checking account 
• deposit 
• savings account